Eighty-eight percent of those surveyed have hired or plan to hire
new employees

February 26, 2013 09:25 AM Eastern Daylight Time

HARTFORD, Conn.--(BUSINESS WIRE)--Nearly three out of four leaders within the manufacturing industry have
either expanded their product or service offerings in the past year, or
plan to expand them in the coming year according to a recent IndustryEdge®survey conducted by Travelers (NYSE: TRV).
This survey of 200 professionals in the manufacturing industry including
general managers, directors, owners and partners from metals, food, and
plastics manufacturers, confirms recent data stating that 2012 was a
record year for manufacturing revenues, and reinforces the view that
expectations for 2013 are positive1.

“Hazards may include less skilled workers, fewer suppliers to
choose from and an increased potential for business interruptions.”

“All of this growth presents tremendous opportunities – and a host of
new hazards throughout the complex, interconnected global supply chain,”
said Jim Mandes, Manufacturing Industry Manager, Travelers Commercial
Accounts. “Hazards may include less skilled workers, fewer suppliers to
choose from and an increased potential for business interruptions.”

The results also revealed that finding and hiring qualified employees
was a prominent issue for manufacturers. In the past year, 88 percent of
surveyed decision makers in the manufacturing industry either hired new
employees or made plans to hire in the next year. To help employers
identify employees who may exhibit desirable traits for a particular
job, Travelers provides an online pre-employment screening tool called
JCP®, or Job Candidate Profile™. The assessment tool,
used in conjunction with other due diligence processes, assists
employers in hiring individuals who tend to exhibit reliable and
safety-conscious behavior.

The survey also reveals that 71 percent of companies are conducting
sales outside of the United States and that 67 percent receive a quarter
or more of their supplies from a single supplier. “If a manufacturer is
relying on a small number of suppliers, and those suppliers are faced
with a temporary situation where they are unable to provide the
materials – the manufacturer can suffer a significant decline in
revenues,” Mandes added.

To manage the unique risks associated with these sales and supply
chains, Travelers offers a host of insurance coverage options, including
worldwide dependent property coverage, a full line of global
insurance protection and specialized risk control and claim services
to meet a wide range of insurance needs in more than 100 countries
worldwide.

Mandes concluded, “As new risks emerge for manufacturers, insurers like
Travelers believe that the new landscape requires a more evolved view of
global businesses. That’s why we provide not only domestic coverage, but
global options that are tailored to fit each manufacturer’s need.”

About TravelersThe Travelers Companies, Inc. (NYSE: TRV)
is a leading provider of property casualty insurance for auto,
home
and business.
The company's diverse business lines offer its global customers a wide
range of coverage sold primarily through independent agents and brokers.
A component of the Dow Jones Industrial Average, Travelers has more than
30,000 employees and operations in the United States and selected
international markets. The company generated revenues of approximately
$26 billion in 2012. For more information, visit www.travelers.com.

1Manufacturing forecast issued by the Business Survey
Committee of the Institute for Supply Management™ (ISM), 12/11/12.

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